Boom Logistics : Industrial Relations Update – 16/11/18

16 November 2018

ASX code: BOL

Boom Logistics Limited

INDUSTRIAL RELATIONS UPDATE

Boom Logistics Limited ("Boom") provides an update to the market on the status of recent industrial action in NSW following its previous announcement on 2 November 2018.

•  Boom has reached an agreement with the CFMMEU on terms to renew enterprise agreements (EBA) at our Port Kembla, Singleton and Newcastle depots on the NSW crane industry standard agreement.

•  A separate EBA will be entered for each of the three depots, as is currently the case.

•  Industrial action has now ceased and workers are expected to return to work on Monday 19 November 2018.

•  A vote is required to approve each EBA by its participating workforce. Each EBA must then be submitted to the Fair Work Commission for approval with an effective date of 19 November 2019.

•  Boom will now update its pricing model for casual hire and non-contracted lifting services to reflect the terms of the new EBAs.

•  Boom is in discussions with contracted clients in the Hunter Valley region to recover direct labour cost increases.

•  The impact of the industrial action is estimated at $3m EBITDA - in line with our announcement on 2 November 2018.

Boom CEO, Tony Spassopoulos said: "It has been challenging for our customers, managers and employees working through this period. We have negotiated a mutual outcome and the industrial dispute has been resolved. Our focus is now on rebuilding our business in NSW."

Further information:

Tony Spassopoulos	Tim Rogers
Managing Director & Chief Executive Officer	Chief Financial Officer
[phone]	[phone]
Media
Georgie Morell
0438 008 383

ABN 28 095 466 961

Boom Logistics Limited

Suite B Level 1,

55 Southbank Boulevard

Southbank VIC 3006

T [phone]

F [phone]

This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of Boom and certain plans and objectives of the management of Boom. Forward-looking statements can generally be identified by the use of words such as 'project', 'believe', 'foresee', 'plan', 'expect', 'aim', 'potential', 'goal', 'target', 'intend', 'anticipate', 'believe', 'estimate', 'may', 'could', 'should', 'will' or similar expressions. All such forward looking statements involve known and unknown risks, significant uncertainties, assumptions, contingencies and other factors, many of which are outside the control of Boom, which may cause the actual results or performance of Boom to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward-looking statements speak only as of the date of this announcement. Factors that could cause actual results or performance to differ materially include without limitation the following: risks and uncertainties associated with the Australian and global economic environment and capital market conditions, fluctuations in foreign currency exchange and interest rates, competition, Boom's relationships with, and the financial condition of, its suppliers and customers, or legislative changes, or regulatory changes or other changes in the laws which affect Boom's business. The foregoing list of important factors is not exhaustive. There can be no assurance that actual outcomes will not differ materially from these statements. Readers should not place undue reliance on forward looking statements. Except as required by law and ASX Listing Rules, Boom undertakes no obligation to update publicly or otherwise revise any forward looking statement as a result of new information, future events or other factors.